MAC CHARLES (INDIA) LTD. Q1 FY27 Results

Mac Charles India's consolidated Q1 FY27 (quarter ended 30 June 2026) loss came in at ₹19.41 Cr, 7.2% narrower than the ₹20.93 Cr loss a year ago, on consolidated revenue of ₹32.23 Cr (+47.9% YoY). Sequentially the loss widened 26.6% from ₹15.34 Cr in Q4 FY26, even as revenue was flat (+0.7% QoQ) — a reminder that the YoY read, not the QoQ move, is the one that matters here. The real estate leasing segment — the core business — swung from a ₹4.65 Cr segment loss in Q1 FY26 to a ₹2.61 Cr segment profit this quarter on 53.8% YoY revenue growth to ₹30.33 Cr, and total segment profit before corporate items rose from -₹4.30 Cr to ₹3.38 Cr YoY. Operating-level margin improved in step: OPM (revenue less employee cost and other opex) rose to ~78% from 60.8% YoY, and NPM (on total income) improved to -54.9% from -87.4% YoY, though it is worse than Q4 FY26's -44.5%.

The reason the operating turnaround hasn't reached the bottom line is finance costs, which rose 35.0% YoY (₹31.42 Cr to ₹42.41 Cr) and 15.5% QoQ (₹36.72 Cr to ₹42.41 Cr) — an increase larger than the entire segment-level profit swing. Total borrowings stood at ₹1,070.46 Cr as of 30 June 2026; the company's one outstanding NCD series (₹50 Cr) was fully repaid during the quarter, per the utilisation-of-proceeds filing, so no listed debt securities remain outstanding, though term loans/vehicle loans (₹1,070.46 Cr) continue to carry the interest load. Management has issued no formal quarterly guidance on record (none in our database, the filing itself, or web searches), so this print cannot be graded against a prior outlook; the results letter is a standard Reg. 30 board-outcome disclosure with no separate press-release commentary on strategy or drivers. We also found no analyst previews or consensus estimates for this micro-cap stock, so the print cannot be benchmarked against Street expectations either.

The stock went into the print at ₹684, down 3.6% over the past month of trading.

For context: this is the second-highest quarterly PAT of the last 6 quarters.

The standalone books, by contrast, show a ₹21.76 Cr profit (EPS ₹16.61) versus ₹10.79 Cr in Q4 FY26 and a ₹4.79 Cr loss a year ago — the swing is almost entirely a ₹25.84 Cr other-income line (up from ₹15.78 Cr in Q4 FY26 and ₹16.19 Cr a year ago), tied to the company's inter-corporate deposits and other financial exposure to its wholly owned subsidiary Mac Charles Hub Projects (net ICDs outstanding of ₹336.37 Cr as at quarter-end). This income eliminates on consolidation, which is why the two statements diverge so sharply — readers should anchor on the ₹19.41 Cr consolidated loss, not the standalone profit.